This transcript has been automatically generated and may not be 100% accurate.

... one survey by an out of ten Americans say they feel like it lost control of the first one to make ... recent breaches more than a hundred million Americans have their personal data top of us ... my credit card ... Monday's ... cybercriminals are racking up charges on her car ... they can destroy your credit rating it can turn her life upside down ... it may take months your finances back in work ... so so this is a direct threat to the economic security of American families gotta stop ... if we're going to be connected ... than we need to be protected ... as Americans we should have the basis ... for our basic privacy ... when we go online to do our best ... and that's why since I took office we've been working with the private sector to strengthen our cyber defense ... a few months ago we launched ... our Buys chore initiative ... the federal government companies across the country are moving ... to stronger chip and pin technology for credit cards ... you're the FTC you're working with credit bureaus so that victims can recover their stolen identities faster ... and every day are helping consumers with identity theft ... dot Gov ... so today I'm announcing new steps to protect the identities of props to the market ... formula support ... first ... we're introducing new legislation to create a single stronger national standard ... Americans know whether information has been stolen or misused ... right now almost every state has ... a different long it's ... been it's confusing for consumers ... and it's been ... using for companies ... and costly to ... the half to comply ... to this patchwork ... of laws ... sometimes folks don't even find other preferred measure has been stolen until they see charges on their bill and then it's too late ... so one of the new ... standard before proposing ... companies would have to notify consumers of a breach ... within thirty days ... in addition we're proposing to close loopholes in the last weekend walk from work criminals who steal and sell ... the identities of Americans ... even when they do overseas ... second ... I'm pleased that more banks ... credit card issuers and letters are stepping up in equipping Americans with another weapon against identity theft ... and that's access to their credit scores free of charge ... this includes J P Morgan Chase Bank of America USA ... state employees credit Union ... ally Financial some of them are here today I wanna thank them for their participation ... this means that a majority of American adults will have free access to their credit score ... which is like an early warning system telling you that you've been hit by fraud ... seeking deal with us ... work for two more companies to join this effort every day ... further ... we're big introducing new legislation ... a consumer privacy bill of rights ... working with many of you for the private sector and advocacy groups we've ... identified some basic principles ... to both protect personal privacy and ensure that industry can keep ... innovate ... for example we believe that consumers have the right to decide what personal data companies ... Colac ... from that ... and how companies use ... that and that that that information ... the right to know that your Pursell information collector for one purpose ... can ... then be misused by company for a different purpose ... the right to have information stored securely by companies that were culpable for teams that we believe that there ought to be some basic baseline protections ... across industries ... so we're going to be introducing this legislation by the end of next month ... and I hope Congress joins us ... to make the consumer privacy bill of rights ... the wallboard ... the filing or take a series of actions protect the personal ... information and privacy of our children ... those of us with kids know how this can be ... whether they are texting worked weeding for ... on Facebook or Instagram of mine ... our children are meeting up and they are growing up ... in cyberspace is all pervasive ... and here the DCU pushback on companies and apps to collect information on our kids without permission ... and the show but ... we're like parents ever were we wanna make shore ... that our children are being smart ... and safe online ... that's irresponsible dude ... ours is parents ... the weenie parks ... we need a structure that ... ensures that information is not being gathered without us as parents ... for the kids know what ... we want our kids privacy protected with that ... wherever they ... signed on ... for a long on ... including at school ...